STX Shipbuilding swings to profit in 2006

STX Shipbuilding, the world’s seventh-largest shipbuilder, said that it swung to a profit in 2006 from a loss a year earlier on rising demand for high-priced ships.

Net profit reached 41.1 billion won ($43.3 million) last year, compared with a loss of 6 billion won a year earlier, the company said in a regulatory filing.